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Hello Broker minds. Does anyone know a lender who isnt a non conformer who can refinance tax debt?
80% lend against multiple unencumbered residential securities. 1.2 loan amount.
AFM no, or only their non conformers. This isnt a cash out question, its a purpose question. Obviously during assessment credit is going to pick up on the tax debt.
Citi was my thought too. Now to try and get hold of the BDM....
Many thanks. ATO debt is 1.2, loan amount 1.2, against resi security.
I havent been able to find a conforming lender to accept financing tax debt as an acceptable purpose. Im sure there might be a way round it for future possible investment cashout, however its not something Id consider.
Non conformers came back at fairly reasonable rates (compared to the ATO default rate lol), but the clients decided to use solicitor funds, which are no doubt more exy.
Many thanks. ATO debt is 1.2, loan amount 1.2, against resi security.
I havent been able to find a conforming lender to accept financing tax debt as an acceptable purpose. Im sure there might be a way round it for future possible investment cashout, however its not something Id consider.
Non conformers came back at fairly reasonable rates (compared to the ATO default rate lol), but the clients decided to use solicitor funds, which are no doubt more exy.
non conforming rates, circa 7% plus 1.25% risk fee